Stop Repossession Today
Property Solvers have many years of experience in helping people who are under the threat of losing their home.
Should you be facing such a situation, it is important not to panic – it happens more often than you may think and there is often a very straightforward solution.
Please fill in our simple form or leave us a message via 0800 044 3733 (lines are open 24/7). We will call you to discuss your options and, should you wish, explore whether you would be interested in receiving a fast cash offer from our fully-regulated property buying company.
Dealing with the Threat of Repossession
If you currently find yourself in mortgage arrears, your lender will want any debt to be cleared. In such situations, you must act immediately. Failure to do so may result in being taken to court and a possession action of your home.
However, it is important to note that your mortgage lender will need to follow specific procedures. Firstly, pre-action protocol rules state that you must be treated fairly and be given the chance to pay off any arrears before any court action. The lender must consider any reasonable request to change when or how you pay your mortgage.
There are also other ways in which court action can be delayed. For example, a sufficient amount of time must be given if you have a mortgage payment protection policy in place or you decide to sell your property.
For an informal chat about your situation please fill out our contact form or call us 24/7 on 0800 044 3733.
If You Have a Court Date
Should you have received a claim for possession from the county court, there is still a very strong chance that your home will not be repossessed.
If you have not communicated with your lender, please do so. There is time to get the situation resolved. Even though you may not be able to stop the case going to court, you may be granted a suspended possession order. This means you can remain in your home as long as you have a clear plan to pay off the arrears owed.
Using the defence form, you can also fully explain your financial and personal circumstances and what attempts you have made to pay back what you owe. As long as you are honest about your situation and can show how you will get back on track with your mortgage payments, the judge will usually be on your side.
Please note that we have provided a very basic explanation on this website. Property Solvers are happy to explain how the repossession process works in more depth - simply fill out our contact form or call us 24/7 on 0800 044 3733 and we will be in touch.
How We Work
Fast Property Buyers
Selling your home through Property Solvers means that you can be assured of a fast cash sale from a professional buying company. There will be no legal fees, estate agency commissions or other hidden costs and the price we offer is exactly what you will receive.
We are able to provide proof of purchase funds and will ensure that the entire transaction will be conducted confidentially with no unnecessary viewings, open days or other delays.
Property Solvers is also regulated by the following institutions and initiatives so we can ensure that our clients are fully protected throughout the fast sale process:
To discuss a private sale with us, please leave your contact details in the box or call us 24/7 on 0800 044 3733.
Frequently Asked Questions (FAQs)
- I have been getting repossession threats from my lender and I am unsure what to do?
Any communication directly from your mortgage lender or their lawyers must be clearly written and easy to understand. If there are any aspects that you are not sure about, you should not be afraid to ask questions. The lender's full contact details should be on any communication you receive.
If you require any guidance on how to approach your lender, please feel free to get in touch with us via email@example.com, the contact form on this website or leave us a message 24/7 on 0800 044 3733.
- How quickly can a mortgage lender repossess my property?
Much will depend on the amount of arrears you have fallen into without communicating. For example, there will rarely be any problems if you have missed a single payment provided you have spoken to your lender (confirming a date when you will clear the arrears). However, as lenders tend to think the worst from any silence, after 1 or 2 months they will usually start the repossession process. They will use the appropriate legal channels available to them.
Remember that honesty is the best policy in these situations. Lenders do not want to repossess homes and simply want to get things resolved. If you have been receiving letters and not responding, we strongly suggest you contact your lender straightaway. Take a note of the people you speak to as well as the time and date for future reference. Please also remember that if your lender starts court action, you must be told in writing.
- I am in arrears with a second mortgage (but not my main mortgage)?
As the loan is secured against your property, the second mortgage lender will follow the same procedures as your main home lender. This home loan is not inferior to your main mortgage. However, as the total loan amount is likely to be lower, you should be able to work towards a manageable payment plan. Note that the lender may refer to your second mortgage as a "secured loan", "further advance", "second charge" or "consolidation loan". These terms essentially have the same meaning.
Again, we stress the importance of keeping your lender updated and making sure that you make the arrears / future mortgage payments on the agreed dates. If you feel that your ability to pay your main mortgage is at risk, we would also suggest keeping the lender informed of the situation.
- What would happen if I came to agreement to repay the arrears but cannot keep to it?
This will mean that the mortgage lender will start court action. However, they will need to inform you in writing of such plans within at least 15 working days' in advance. If you feel that you can only afford to pay a small amount, please advise this to your lender as early as possible. They should appreciate that you are being honest and doing your best.
- What are "pre-action" protocol rules?
Created in April 2015, pre-action protocol rules set out the processes that both you and your lender must follow before any court action can happen. Following these steps means that your case will be looked at more favourably should your lender take you to court.
You (the borrower) will need to ensure that:
- You keep in touch with your lender;
- You act fairly and reasonably;
- You try to sort out payment of your arrears to the best of your ability.
The lender will need to ensure that:
- They inform you of your legal rights if you miss any payments;
- You are fully aware of the total amount of arrears owed;
- They inform you of how much in total is left to pay on your mortgage or secured loan, including any added interest or charges;
- They give you a breakdown of the instalments paid over the previous 2 years;
- They give you a regulatory information sheet or the National Homelessness Advice Service / Shelter / Cymru booklet on mortgage arrears. Please note that this is a mere formality and you should not think receiving this information will make you homeless;
- They find out whether the property is occupied by an authorised tenant;
- They discuss the cause of the arrears, your financial circumstances and proposals for repayment;
- They advise you to make early contact with the Local Housing Authority (LHA) and seek independent debt advice;
- They give you a reasonable amount of time to consider a proposal for payment. Here, you must have enough information to clearly understand how such a proposal will work and affect your finances.
The pre-action protocol also means that your lender has to consider any reasonable request from you to change when or how you pay your arrears and future mortgage payments. If the offer you make is refused, you must receive a full explanation in writing within the following 10 days. Providing you are proactively trying to resolve the situation, the lender cannot start any court action.
- How can court action for repossession be delayed?
Under the pre-action protocol rules, there are a number of circumstances where a mortgage lender will not be able to start court action (provided you can show definitive proof):
- If you have a mortgage payment protection policy in place and you are making a claim;
- If you have made a claim to the Department for Work and Pensions (DWP) for Support for Mortgage Interest (SMI);
- If you have made a claim for Universal Credit (UC);
- If you have looked for help from your Local Authority under the mortgage rescue schemes or homelessness prevention support;
- If you have confirmed or are actively seeking an appointment with an independent debt adviser;
- If you have a job offer or other source of supplementary income, such as a lodger;
- If you are making a complaint to the Financial Ombudsman Service (FOS) with regards to how the lender is dealing with your arrears;
- If you decide to sell your property to pay off your arrears and total mortgage debt.
- What are the options I have moving forward to stop repossession?
The pre-action protocol rules also state that your lender should also not start a possession claim if you are exploring an arrangement with them. Some of the options worth exploring include:
- Extending the term of the mortgage;
- Changing the type of mortgage from repayment to interest only;
- Delaying the interest owed to a later date;
- Taking on a lodger or moving out so you can rent your property;
- Capitalising your arrears (in other words, adding what you owe to the total loan amount). Note that this will increase your monthly mortgage payments;
- Checking if your lender participates in a Government "forbearance" initiative (a special arrangement that can delay repossession);
You should note that each of these options has advantages and disadvantages. You should clearly understand what each of these choices means for your own financial situation in the future.
- What if the repossession bailiffs are due to be coming around?
In this situation, the court has already ruled that the property is to be repossessed and handed back to the bank. Depending on the circumstances, there is a possibility that things could be turned around through selling your property to a cash buyer (with proof of funds). The private buyer will need to demonstrate at an emergency court hearing that he/she is willing to exchange contracts straightaway. This will mean immediate payment of the total mortgage debt alongside any arrears, accrued interest, legal costs and penalties.
While this route does mean that you will not be able to remain living in your home, you will not have a County Court Judgments (CCJ) against your name. This will mean that you will not have as much difficulty in finding a suitable place to rent. Also, you will also be in a better position to buy another property in the future.
- I would like to simply sell my property, how can Property Solvers help?
Once we are certain you have explored all of your options, we would be happy to explain how our service works. As cash purchasers, we are able to exchange in 24 hours and complete within the following 7 days where necessary. This would satisfy even the most demanding of lenders and would also mean that you will get a lump sum of money (depending on how much mortgage debt you have).
There are no estate agency, legal or other associated fees to pay – meaning that our offer is exactly what you will receive. We will also cover any court and administrative costs associated with your case.
- Do you purchase any kind of property?
Yes, we can purchase residential and commercial property as well as land and development sites (with or without planning permission in place).
- Will Property Solvers be able to accompany me to court?
Yes, we have legal specialists who are experienced in dealing with such situations.
- Can I sell and rent back my home?
Unfortunately not. This is a service that fast buying companies like Property Solvers were able to offer prior to 2009 when the sector became regulated. There was a handful of dishonest operators that brought the sell and rent back industry into disrepute and so the Financial Conduct Authority (FCA) placed strict controls.
- I need to sell the property but do not have anywhere to live?
In what is a very stressful situation, Property Solvers will be fully available to assist you with any accommodation needs you may have. We can, for example, liaise with the courts to extend the period you can stay at the property prior to completion. We can also assist you in finding suitable rental accommodation.
- I still have further questions?
Should you be in mortgage arrears, how the lenders will react will depend on your specific circumstances. However, we would stress again that there is often a very simple solution. We welcome any further questions and queries by filling our simple form, contacting us by e-mail firstname.lastname@example.org or leaving us a message via 0800 044 3733 (our lines are open 24 hours / 7 days a week).
Please note, by entering your details you are not committed to sell your property in any way. We completely understand that you may merely be making enquiries and contacting other fast buying companies.
Disclaimer: Please note that the Directors at Property Solvers Limited are not Independent Financial Advisors, solicitors or housing law specialists. In addition to any recommendations we make, we strongly suggest seeking suitable guidance from suitably qualified professionals.